IFSC codes, names of 1500 SBI branches changed

11/12/2017

Gupta added all the customers of the affected branches have been informed about the move and the bank has internally mapped the new IFSC codes too. After merger with associate banks in the month of April, the State Bank of India meant to change the branch names and IFSC codes. A customer can find out your bank IFSC code and other details you can go to the SBI Branch Locator web page.

India's largest bank, SBI (State Bank of India), in a major move, changed the IFSC code names of over 1200 SBI branches in the country.

The SBI has changed the unique identifying codes for almost 1,300 of its branches.

The bank has close to 23,000 branches. Reportedly, 1300 branch names and IFSC codes were changed.

For the convenience of the consumers, State Bank of India has already published the complete list of the all the branches whose codes and names have been changed. The branch names in various cities such as Hyderabad, Chennai, Bangalore, New Delhi, Mumbai, Kolkata, Lucknow, and other regions bank names were changed.

With the change in the code, name and IFCS code of the specific branches of the bank, the consumers would now need to be more careful while making financial transactions digitally.

State Bank of India has merged 5 associate banks, i.e., State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Hyderabad and State Bank of Travancore & Bharatiya Mahila Bank w.e.f April 1.

He assured customers will not face problems in money transfer through the said methods even if the old IFSC code is used initially as the branches will take care of those at their end.

Apart from this, SBI is also redesigning its window envelopes used in dispatching tax refund cheque of customers in order to hide the contact and PAN numbers.

The move comes almost 16 months after activist Commodore (retd) Lokesh Batra raised the issue that the window envelopes used by SBI make it easy for someone to glance through permanent account number (PAN) and contact number of the tax payee and misuse it.

RBI has alleged SBI is violating its direction on 'protection of customer's information'.

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